Inventory Management Excel Templates Free Downloads
As an inventory manager at times your job can get pretty complicated. Managing your inventory and overviewing the different items in stock. That will help you in knowing whether they’re fresh, delivered on time and always in stock in a daily, weekly or even monthly basis can save your business quite some cash.
A lot of usually buy softwares to help manage their inventories and these always come with a lot of benefits. On the hand the learning curve can also be quite steep depending on the complexity of the software. A simple low cost method you can use is to create an Excel template or download one off of the internet.
Excel is a really great tool you can use. It can help you to collect large amounts of data which you can then analyze and interpret. Furthermore you can even turn those data into charts and diagrams which can add another dimension to your template. It will help you to visualize the information better and communicate it with your team.
Just like other inventory management softwares. Excel can be quite difficult to learn at first but once you’ve understood some of the basic functionalities. you can find it quite manageable going forward. To give you a little glimpse of what Excel is like. You can follow the simple tutorial below on how to create an inventory management template in Excel.
Inventory management Excel template tutorial
You are going to firstly load up Excel and create 11 columns. These should be where you are going to insert your data. These are going to be reorder, item number, name, manufacturer, description, cost per item, stock quantity, inventory value, reorder level, days per reorder, items reorder quantity and item discontinued.
You are now finished and you can then insert your data under each column.
This is just a simple technique you can use to create a very simple inventory management template in Excel. You can find a lot of other tutorials elsewhere on the internet which can teach you more sophisticated methods and tricks on how to get more out of using Excel.
If you are going to use an Excel template there are a lot of benefits why it’s so useful. Firstly it can take out all of the hassle of creating a template from scratch. This can tend to save you a lot of time.
Secondly you can create reports to show to your managers and other persons on your team about your inventory management progress. These reports can also contain charts, graphs and other diagrams to give you a better analysis of your data. Lastly it can also help you with managing reorder which have caused a lot of confusion for inventory managers.
In summary using Excel for inventory management can be a lot cheaper than other softwares. Excel also tend to be more flexible as well because if you’ve reached a certain level of skill. You can take advantage of the cool features and tools to create a lot of programs to help you in your daily business life. There are a lot of forums you can get help from online with your Excel problems from a vibrant community.